It is not all about performance: Importance of the funding formula in the allocation of performance-based research funding in England

Performance-based research funding systems have become popular over the last decades. One of the main reasons for these funding systems is to allow funding bodies to allocate public research funds more effectively based on the assessed quality. However, the performance-based research funding received by higher education institutes (HEIs) not only depends on the quality of research activity carried out but also on the funding formula used by...